Apple Inc. $AAPL is Stenger Family Office LLC’s 6th Largest Position

Stenger Family Office LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.8% during the first quarter, Holdings Channel.com reports. The fund owned 102,851 shares of the iPhone maker’s stock after acquiring an additional 8,287 shares during the quarter. Apple accounts for 4.7% of Stenger Family Office LLC’s investment portfolio, making the stock its 6th largest holding. Stenger Family Office LLC’s holdings in Apple were worth $26,103,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AAPL. Lifetime Wealth Management P.C. purchased a new position in shares of Apple during the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC boosted its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the period. LSV Asset Management purchased a new stake in Apple in the 4th quarter worth $65,000. Timmons Wealth Management LLC purchased a new stake in Apple in the 4th quarter worth $69,000. Finally, Inspire Investing LLC bought a new stake in Apple during the fourth quarter valued at about $76,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. This represents a 10.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,924 shares of company stock valued at $825,546 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Apple Stock Up 0.4%

AAPL opened at $327.74 on Wednesday. The firm has a 50-day simple moving average of $304.95 and a two-hundred day simple moving average of $277.89. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $334.99. The company has a market capitalization of $4.81 trillion, a PE ratio of 39.63, a price-to-earnings-growth ratio of 2.84 and a beta of 1.10. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.3%. This is a boost from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is 13.06%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly launching a new device leasing program with Klarna, a major change to how it sells hardware that could support upgrade demand and recurring device sales. Reuters: Apple to launch ‘Upgrade’ device leasing program to spur sales, Bloomberg News reports
• Positive Sentiment: HSBC upgraded Apple, saying it is entering a powerful new upgrade cycle supported by AI and a strong hardware roadmap. Barchart: HSBC Says Apple Is Entering a Powerful New Upgrade Cycle
• Positive Sentiment: Several commentators highlighted Apple’s pricing power, strong installed base, and relative insulation from the AI capex arms race as reasons investors are favoring AAPL over some other mega-cap tech names. MarketBeat: Apple Stock Sends Major Warning Signal as Momentum Hits Peak

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. Morgan Stanley restated an “overweight” rating on shares of Apple in a research report on Monday. Oppenheimer reiterated a “market perform” rating on shares of Apple in a research report on Tuesday, June 9th. HSBC raised Apple from a “hold” rating to a “buy” rating and lifted their target price for the company from $260.00 to $366.00 in a research note on Thursday, July 16th. TD Cowen boosted their price target on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Finally, Wedbush restated an “outperform” rating and issued a $400.00 price target on shares of Apple in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.71.

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.